American expert said US hegemony in the world is over
American economist Jeffrey Sachs said that the US hegemony in a broad political or economic sense no longer exists, RIA Novosti reports
Jeffrey Sachs noted that the United States is no longer a hegemonic power, except in the imagination of the American political class.
The expert clarified that now there are many large states in the world: Russia, China, India, and they have practically replaced the role of the United States.
At the same time, he acknowledged that the US currency continues to dominate the international financial system. Nevertheless, Jeffrey Sachs said that he expects a significant decrease in the spread of the Dollar against the background of the growing importance of other countries, the boost of digitalisation and the abuse of the role of the national currency by the United States as a global one.